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U.K. Jobless Falls To 26-Year Low;
Wage Growth Beats Expectations

Dow Jones Newswires

Updated May 16, 2001 7:27 p.m. ET

LONDON -- Unemployment in Britain fell to its lowest level in 26 years in April, while wage growth was stronger than expected, the National Statistics office said Wednesday, offering arguments for a hold on further interest rate cuts by the Bank of England.

The number of unemployment benefit claimants dropped to 985,800, or 3.2% of the total workforce, down 139,200 on the year.